How To Become a Wholesaler

Whether you are looking to become a wholesaler part time to supplement your current income or looking to go into it full time, becoming a wholesaler can be a very rewarding business venture. As a wholesaler you will basically be the middleman who will supply retailers with the goods that are in demand so that they can resell. Before you pursue becoming a wholesaler you will want to check with your state and see if you need any type of license to run a wholesale company. Chances are that you will need a license but it will not be very expensive. You will also want to get a tax identification number, many manufacturers may not deal with you unless you have one.

First off you will need to decide what you want to wholesale. You can specialize in one type of product like electronics, clothing, jewelry, etc. or you can wholesale a wide variety of items. Next you will need to have business cards made up so that you can hand them out to any future business associates. You will need to make contact with manufacturers and see what kind of deals you can work out with them. If you are a shy and timid person who is too nervous to contact manufacturers and inquire then it may be possible that being a wholesaler is not for you. You must be a person who is not scared to communicate on a business level. Attending trade shows would be a good move as it will give you the opportunity to get to know vendors whom you can inquire about selling their products at wholesale to your customers. When you talk business with others you always want to hand them your business card to contact you.

As a wholesaler you will want to offer your customers the best prices you can and still make a good profit so you will also want to get the best deals you can from the manufacturers, the better prices you can get from the manufacturers the better prices you will be able to offer your customers. To get the best deals you will need to buy in bulk, the more you buy the cheaper you will get your stock. Make sure that you have storage space to keep all of your stock at. You can keep your merchandise at a rented public storage, your home garage, or any other safe place you can think of just so as long as you have a place to keep your merchandise.

To become successful to being a wholesaler you will need to put time and effort into it. You will need to study the market for whatever it is you are selling and gain knowledge about the products that you are selling. When your customers buy from you they will sometimes ask lots of questions about products and they will expect you to have the answers.